A holiday to Tokyo, New York or Vancouver may be on the cards after the Australian dollar surged to multi-month highs against the US, Japanese and Canadian currencies buoyed by hopes of local interest rate rises.
The Australian dollar was at US69.31¢, its highest level since September 2024, on Monday, having climbed 3.2 per cent last week, the biggest gain in nine months. That puts the dollar within a whisker of its 2024 peak – passing that mark would take the currency to its highest level in three years.
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